Businesses from all over the world promote different services and products through advertising platforms. There are so many advertising platforms. Therefore, finding the right platform that suits your business is not an easy task at all.
According to WebFX, $9000 to $10,000 is the average monthly cost of a PPC campaign for small to mid-sized businesses.
Using PPC campaigns for your business can be very expensive. It’s therefore important to choose the right advertising platform for your business.
How to identify the best advertising platform?
1) Identify your audience
The most crucial thing to do is to understand your target audience. You need to know your audience demographics, habits, and where they love to spend their time, including the social media platforms they use.
As every platform is used by different audiences, choosing the right advertising platform for your business will be easier once you identify your target audience.
TikTok, for example, is widely used by young people, while Google is used by both young and old.
If you decided to use TikTok for advertising your business and want to create viral videos, reading this post will guide you on how.
2) Understand your type of business
Another question you need to ask yourself when searching for the best advertising platform for your business is “What kind of business do I have?”
There are two different types of businesses:
- Business-to-business (B2B): Businesses that sell products or services to other businesses rather than consumers. The services and products are usually more expensive in B2B. An example of a B2B business is a marketing agency that helps other businesses grow through different marketing channels.
- Business-to-consumer (B2C): Businesses that sell products or services to individuals directly, instead of selling them to other businesses.
3) Consider your budget
Considering your budget is important because some advertising platforms can be expensive. For example, in your niche, Google Ads may have a high CPC (Cost-per-click) compared to other advertising platforms like Meta Ads (Facebook/Instagram), Outbrain, TikTok, and more.
In 2023, the average CPM (Cost per 1000 impressions) for TikTok is $9.5, while the average CPM for Meta Ads is $14.4, and the average CPM for Google Ads is $38.4.
You can see the big difference between the platforms, so choose your platform wisely according to your marketing budget.
You can conduct online research to check the average CPC in your niche for different advertising platforms. It will help you to make a better decision.
4) Set your goals
Think about your marketing goals. Do you want to advertise your business to raise brand awareness, receive leads, or sell products online?
It is easier to decide which advertising platform is best for your business after setting your goals.
5) Evaluate your options using professional services
Even though using professional services is not cheap, paying cheap now can be expensive later on, especially in digital marketing.
You may consider using such services to decide on the best advertising platforms for your business.
If you decide to use professional advertising services, it’s important to know the safe way of granting someone access to your ad account. Learn how by reading this post.
6) Test and track your results
Once you identify the best advertising platforms for your business, you may change your decision after starting to advertise on those (if necessary).
It is important to make further decisions based on the data you receive because sometimes we assume something, and it actually works differently.
Test a few advertising platforms and see which ones perform the best, then increase the budget on the platforms that work.
To conclude,
Identifying the best advertising platform for your business is not an easy task. It needs to be done based on research and data you have.
Be flexible with your budget and test different platforms until you see which is ideal for your marketing goals.
